Essentially that is what continues to occur today. The "alpha monkey" still exists though, behind the scenes. Imagine a death dealing super-alpha monkey in the center of a circle. Surrounded by ashes (disposed of bodies) and scared-of-physical-torture people dispersed. The scared-of-physical-torture people tell an outer ring of people that they rule the world. Now that group is fairly intelligent, but not genius and sell the dogma/doctrine (church, science, finance, law, etc.) Now, the super-alpha-monkey does not like change. So will kill any of the fairly-intelligent people if they start talking outside known scripts and dogma. Unfortunately, the air force cannot drop bombs on the damn thing. Diplomacy is the only answer. But you better be damned good. Secretary Kerry is not good enough and Secretary Clinton was not prepared or educated enough. That is essentially the situation.
.... and most ordinary folks have assumed the other position! Bread and circuses. Keep them fed and keep them entertained and keep them fearful. I think that is how the Romans handled it as they were constantly fighting off the barbarians. One sad day the barbarians (germanic tribes I believe) won. Things got kinda ugly from there. BTW, Caesar marched on Rome and became a monarch. He and the wealthy senators ruled after that, but politics got a little more tricky for him personally. It is a good thing that we have become civilized since then. I often wonder if we had better records of civilizations before the Egyptians, would we see a pattern in all this? Especially since Archimedes computer was found. (Antikythera Mechanism) The implications of that find are absolutely astounding! Are we the most advanced civilization that has ever lived on this planet?
All good points. Two types of monarchs: 1. inherited, 2. conquered. Actually 3 because there is an ecosystem of underground secret monarchs who rule with a variety of ruthlessness to benevolence. And, to the best of my knowledge, 80,000 years ago was a civilization beyond imagination. Time distortion technology. World Wars have been fought for thousands of years to gain control of that technology. Consider the possibility that the bible was written 80,000 years ago, but is re-presented every 6000 years since (after destroying all of mankind and it rebuilding).
Well, most of what we think is money is actually credit. When credit contracts, money *disappears* in that sense. But actual money, I agree, isn't lost but just transferred.
Most "physical cash" is credit. However, most things I have read say that most M(123) money is debt due to fractional reserve banking. Therefore to make a long story short, destruction of debt is a deflationary event (2008 housing crash for example) which needs QE and trickery to combat. Am I misunderstanding something?